'It has been an extremely difficult decision,' said PSGGroup CEO Piet Mouton when explaining the directors’ proposal to unbundle all the interests the group holds in diverse listed companies, as announced on Monday. Moneyweb CompanyNews AdriaanKruger
“It has been an extremely difficult decision,” said PSG Group CEO Piet Mouton when explaining the directors’ proposal to unbundle all the interests the group holds in diverse listed companies, as announced on Monday. “Unfortunately, our investment model, and those with similar structures, has fallen out of favour globally. The ever-increasing discounts at which investment holdings companies trade now negate the benefits of being listed.
Two steps “However, important to note is that steps 1 and 2 are linked – meaning that shareholders need to approve both the unbundlings and the cash repurchase offer for the transaction to be implemented. “To be clear, should the unbundlings be approved, but not the repurchase, then the proposed transaction will fail. Then, PSG will continue to operate in its current form as an investment holding company,” says Mouton. His arguments for dismantling PSG make sense.
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